Polymarket faced $10 million fraud attempt as its CEO pushed growth over compliance concerns: WSJ
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Polymarket confronts a $10 million fraud scheme after its CEO prioritized rapid expansion over compliance, the Wall Street Journal reports, while hackers also breached roughly 500 user accounts using stolen personal data. The dual threats expose the platform’s security gaps, prompting regulators to scrutinize decentralized prediction markets and likely dampening investor confidence in the sector.
In a separate attack, hackers compromised nearly 500 users' accounts using stolen personal information, according to the report.